Oracle and Walmart rush in bid to save TikTok US over the weekend
TikTok users in the United States are one step closer to having a platform that’s not banned, and also being People of Walmart without even lifting a finger as CNN is reporting that there was a tentative deal reached over the weekend.
The ban would be lifted if an American company takes control of the US operations as presumably the country that allows Facebook to operate like it does is less of a threat to user privacy.
If the deal goes through a company called TikTok Global would be formed with the US companies having a 20% interest and allowed to review the app’s source code, but not own or port or use it in any way. Oracle would handle the cloud logistics and storing user data in the United States, and Walmart would probably get discounted advertising to a generation that doesn’t like Walmart.
The deal still hinges on getting Trump’s final approval because of course it does.[CNN]